Genting Singapore's tough bet

IT would be hard to imagine gaming magnate Sheldon Adelson of Las Vegas Sands resisting an I-told-you-so moment after rival Genting Singapore posted its results a week ago.

The Asian casino giant's elevated bad debt charges over the final quarter, its highest ever since the opening of Resorts World Sentosa, lent credence to Mr Adelson's public decry last November over his rival's aggressive incentives to lure big-time gamblers.

For the fourth quarter, Genting Singapore's impairments saw a sharp uptick to S$82 million, double that of the previous year and 40 per cent up from a year ago.